PRESS RELEASE
16th July, 2018
CBIC to observe Third Refund Fortnight to clear pending refunds
Refunds of GST have been a concern for the Government and Trade for the past
several months. In this regard, the CBIC has observed two special drives cum refund
fortnights in the Month of March, 2018 (15th to 31st March, 2018) and June, 2018 (31st
May to 16th June, 2018) respectively. These refund fortnights have provided a lot of relief
to the trade. In the 1st refund fortnight, Rs. 4265 Crore IGST refunds and Rs. 1136 Crore
ITC refunds were sanctioned by field formations of CBIC. Similarly, during the 2nd refund
fortnight, Rs. 6087 Crore IGST refunds and Rs. 1548 Crore ITC refunds were sanctioned
by CBIC. In case of IGST refunds for goods exported out of India, the percentage of
amount of refund claims disposed by CBIC is already more than 90%.
However, in order to liquidate pendency further, and to handhold/guide the trade for
applying for the refund claims in a proper manner, it has been decided to observe another
refund fortnight from 16th July, 2018 to 30th July, 2018. Dedicated refund cells and
helpdesks would be provided for exporters to get their refund claims processed, in each
Commissionerate.
The exporters and export organizations are requested to take benefit of this
opportunity to get their pending refund claims processed. The facility to view reasons for
pending IGST refunds have been provided on ICEGATE. As the IGST refund procedure
is designed for seamless electronic processing if sufficient and correct details are filed by
the exporter, so Export organisations and Export Promotion Councils must come forward
to assist exporters in observing the correct procedure to file refund claims and in
rectification efforts in the case of errors.